Property listings across Australia down

Property listings across Australia down

Posted on Friday, September 04 2015 at 10:58 AM

The number of residential property sale listings fell in all capital cities during the month of August according to SQM Research.

Nationally,
the number of listed properties dropped to 333,923 in August 2015, decreasing
4.3 per cent from July 2015, with the number of sale listings down 3.9 per cent
from a year earlier. A monthly fall in sale listings for August was expected
due to abnormally high sale listings for the month of July 2015.

Year-on-year
results indicate that Melbourne and Hobart experienced excessive yearly falls.
Melbourne recorded the biggest yearly change, with listings falling by 20 per
cent, reducing the number of properties for sale to 35,474. Hobart soon
followed with records indicating a yearly change of 12.6 per cent.

Within
the last 12 months sale listings for Darwin and to a lesser extent Perth have
recorded high yearly growth. Darwin experienced a yearly growth of 10 per cent,
with sale listings climbing from 1,719 to 2,081. Sale listings in Perth
increased from 21,116 this time last year to 23,232 (August 2015), a total
yearly growth of 10 per cent.

Managing director
of SQM Research Louis Christopher says: “It’s another surprise result and a reversal of the
surge in listings during July. Normally listings start to rise in August ahead
of the spring selling season. We’ll wait until the September reading before
drawing too many new conclusions on the market.”

Asking
prices for Sydney houses continued to climb over July, with a total monthly
rise of 1.2 per cent for houses and 0.7 per cent for units. The median asking
price for a unit has now reached $630,300, while the median house asking price
in Sydney is $1,124,500, according to SQM Research’s figures.

In
contrast, median asking house prices in Canberra recorded yearly falls, with a
year-on-year comparison showing a 12-month decline of 4.8 per cent for houses,
and 1.4 per cent for units. Perth median asking prices continue to record
yearly falls – in particular asking prices for houses are down 4.6 per cent
over the last 12 months and 1.2 per cent for units. 

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